2014 -- S 2613 AS AMENDED

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LC003692

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2014

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A N   A C T

RELATING TO CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS - RHODE

ISLAND BUSINESS CORPORATION ACT

     Introduced By: Senators McCaffrey, Lombardi, and Felag

     Date Introduced: March 04, 2014

     Referred To: Senate Judiciary

     (Secretary of State)

It is enacted by the General Assembly as follows:

     SECTION 1. Section 7-1.2-1308 of the General Laws in Chapter 7-1.2 entitled "Rhode

Island Business Corporation Act" is hereby amended to read as follows:

     7-1.2-1308. Articles of dissolution. -- The corporation shall execute articles of

dissolution by its authorized officer. The statement proclaims:

      (a) The name of the corporation.

      (b) That all debts, obligations, and liabilities of the corporation have been paid and

discharged or that adequate provision has been made for the payment., discharged or have been

subject to a completed bankruptcy proceeding under Title 11 of the U.S. Code.

      (c) That all the remaining property and assets of the corporation have been distributed

among its shareholders in accordance with their respective rights and interests.

      (d) That there are not suits pending against the corporation in any court, or that adequate

provision has been made for the satisfaction of any judgment, order, or decree which may be

entered against it in any pending suit.

     SECTION 2. This act shall take effect upon passage.

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LC003692

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS - RHODE

ISLAND BUSINESS CORPORATION ACT

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     This act would make a technical change clarifying the provisions of the general laws

governing the contents of articles of dissolution of a corporation.

     This act would take effect upon passage.

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